This Massive Discovery Has Put The Saudi’s Into a Panic

10-15-2013 • moneymorning.com

It is 6 times larger than the Bakken, 17 times the size of the Marcellus formation, and 80 times larger than the Eagle Ford shale.

All told what was recently discovered outside a sleepy Australian town contains more black gold more than in all of Iran, Iraq, Canada, or Venezuela.

With current estimates at 233 billion barrels its just 30 billion shy of the estimated reserves in all of Saudi Arabia.

According to one renowned international expert, this massive discovery could eventually dwarf the oil rich kingdom as the original estimates are revised.

1 Comments in Response to This Massive Discovery Has Put The Saudi’s Into a Panic

Comment by PureTrust

Entered on: 10/15/2013 5:06:26 PM

More than likely, Big Oil guessed that something like this would happen. Indeed, with all the little finds going on, they probably expected this for a long time now. Do you think that they might be the ones behind the globally warming push, so that when these big fields are found, they can coax people and governments to avoid tapping into them, for fear of increasing global warming with all the extra easy-oil that would flood the market?

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